We see that you have a post code search directory listing firms on the Co-operative conveyancing panel. Do firms pay you a commission if I appoint them for our own conveyancing in South Kensington?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in South Kensington.
We are hoping to buy a newbuild apartment in South Kensington with a residential mortgage from Barclays Direct.We have a South Kensington conveyancing practitioner but Barclays Direct advised that he's not listed on their approved list of member firms. we are left little option but to use a Barclays Direct panel lawyer or keep our local solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The home loan issued to you is subject to its various provisions, a common one being that solicitors will be on the Barclays Direct approved list. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Barclays Direct
My conveyancer has informed me that lack of right of way insurance is required on my purchase. What is the typical level of cover needed for conveyancing in South Kensington?
The right level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Santander and Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such policies.
I can not fathom if my lender requires a lease extension. I have called my South Kensington building society branch on various occasions and was told they are content with the situation and they would lend. My South Kensington conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The conveyancing practitioner has to follow the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
After weeks of negotiation I have agreed a price on an apartment in South Kensington. My financial adviser suggested a conveyancer. I paid an upfront payment of £175. A few days later, the lawyer called me sheepishly admitting that they were not on the Barclays conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Barclays panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I own a semi-detached Georgian house in South Kensington. Conveyancing practitioner acted for me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in South Kensington and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing solicitor who conducted the conveyancing.
How does conveyancing in South Kensington differ for newly converted properties?
Most buyers of new build premises in South Kensington contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in South Kensington usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in South Kensington or who has acted in the same development.